Short of cash and under pressure from its bank, FlyMe shuts down

Sweden's FlyMe abruptly suspended all flights Friday and announced it will file for bankruptcy "as soon as possible" following notification from the bank that handles the airline's online transactions that sales were suspended that morning and that more than SEK60 million ($8.5 million) in payments would be held as security.
FlyMe sold 95% of its tickets on its website. Parent Fly Me Europe AB said the bank would not reopen sales unless the company "can demonstrate payment of the remaining ...